The Egyptian government is preparing a draft bill to be presented to the Cabinet soon to amend some provisions of the Universal Health Insurance (UHI) Law to deduce the mandatory contribution to the UHI from the tax base, Minister of Finance Mohamed Maait disclosed today.
The new law will grant the Cabinet the power to exempt some revenue from the mandatory contribution to the UHI to incentivize the economy, he added.
Maait called on employees at the Egyptian Tax Authority to study the executive mechanisms that prevent the deduction of the UHI’s contribution more than once per product.
On August 9th, Maait announced that the investment portfolio of the Universal Healthcare Insurance System (UHIS) reached around EGP 50 billion.
Source: Arab Finance